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CFTC Files Enforcement Action Requiring Louisiana Man
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CFTC Slaps $9.2 Million Fine and Lifetime Ban on NOLA FX Founder
A Ponzi-style forex scheme has left its organiser facing nearly $16 million in court-ordered payments. The U.S. District Court for the Eastern District of Louisiana ordered Michael B. DePetrillo and his companies, Meteor LLC and NOLA FX Capital Management LLC, to pay a $9,211,492 civil monetary penalty for their participation in the fraudulent retail forex operation. That comes on top of the $6,748,412 in restitution DePetrillo was ordered to pa…
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